Billionaire Stephen Ross turned down an offer for the Miami Dolphins that would’ve given him a $14 billion return on investment, but he’s keeping the team in the family, naming his son-in-law Daniel Sillman heir apparent.
“I’m fortunate,” Ross said in an interview with Bloomberg this week.
The 85-year-old founder and chairman of Related Companies did not name the rejected buyer, who offered $15 billion for the team. Puck reported in 2024 that a deal between Ross and his fellow Palm Beach billionaire Ken Griffin that would have valued the team and Hard Rock Stadium at $7.5 billion broke down in the final stretch of negotiations.
Ross did not clarify whether Sillman’s future role as team owner would also encompass overseeing Ross’ Hard Rock Stadium or his other sports investments. Ross also owns the exclusive rights to host Formula 1’s Miami Grand Prix through 2041.
Ross paid just $1 billion when he acquired the Dolphins in 2009. NFL team valuations have grown rapidly in the years since, in large part due to supply constraints (there are just 32 teams) and lucrative media deals.
Sillman has reportedly been involved in interviews as the Dolphins seek a new general manager and head coach. He is the co-founder and CEO of Relevent, a soccer media and events firm that is backed by Ross’ RSE Ventures.
Stephen Ross hardly needs $14 billion. The developer is in his swan song era.
Ross moved from New York City to his hometown, West Palm Beach, a few years ago. He has been focused in recent years on office investments in West Palm Beach, through his firm Related Ross, with a vision to turn it into a major business and innovation hub.
His buildings dominated the biggest South Florida office leases last year, and he secured a $772 million construction financing package last month — the biggest in South Florida history — for two office projects.
—Kate Hinsche